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Louisiana Rankings Crime & Corrections#50Economy#50Education#46Fiscal Stability#38Health Care#453 more rows
Overview of the Louisiana Economy Louisiana's gross state product (GSP) in 2023 reached $219.1b, with growth of 18.4k% over the 5 years to 2023. Businesses in Louisiana employed a total of 2,241,025 people in 2023, with average annual employment growth over the past five years of -0.4%.
Figure 2 shows how the increase in real GDP in Louisiana of +1.4% in Q23 ranked 31st in the country to $289.9 billion, after an annual decline in economic output by -1.8% in 2022 which was the second worst in the country.
The oil and gas industries are crucial to Louisiana's economy because each of its 64 parishes, or counties, have produced oil, gas, or both. The oil industry is a major contributor to Louisiana's overall economy today as it accounts for nearly one quarter of the state's exports.
Louisiana ranks as the second-poorest state in the US, with a poverty rate of 17.80%.
Louisiana's Coastal Master Plan Developed using the best available science and engineering, the master plan focuses our efforts and guides the actions needed to sustain our coastal ecosystem, safeguard coastal populations, and protect vital economic and cultural resources.
What is Louisiana's Gross Domestic Product (GDP)? In 2023, Louisiana's GDP reached $219.1b, representing an increase of 18.4k% from 2022. Louisiana's GDP has grown at an annualized rate of 0.9% over the five years to 2023. Moreover, Louisiana's trailing five-year GDP growth ranks it 26th out of all 50 US states.
Louisiana ranks 26th in economy size among states and Washington, DC. In 1st quarter of 2023, Louisiana accounted for 1.1% of the US economy.
States With Highest GDP The ten states with the highest GDP are California, Texas, New York, Florida, Illinois, Pennsylvania, Ohio, Georgia, New Jersey, and Washington.
In the 1st quarter of 2023, the real GDP for Louisiana was $283.4 billion in goods and services per year. In the 1st quarter of 2023, the real GDP for Louisiana was $283.4 billion in goods and services per year.